A study recently conducted on the Total Economic Impact (TEI) of Domo by independent research firm Forrester Consulting was released earlier this month, and it spoke volumes about the value of the leading cloud-based operating system for business.
The study, which examined four Domo customers that have been using the Domo platform for three years, revealed that each customer achieved an ROI north of 400% over that time frame. What’s more, each customer recouped their investment in less than one year.
Prior to turning to Domo, the organizations analyzed were using at least one BI tool—but struggling to obtain the insights necessary to drive change.
Once the companies deployed Domo, they were finally able to make inroads on their digital transformation efforts.
From a quantifiable perspective, they experienced a $5.3 million increase in net profit, stemming largely from the newfound ability to put analysts on more valuable projects.
And from a qualitative standpoint, they reported two things primarily: an uptick in executive confidence in decision making (because of better visibility into the business), and a change in the company culture (because of self-service access to timely insights).
Interviewees told Forrester that Domo’s out-of-the-box intuitiveness for decision-makers greatly impacted their ability to generate their own reports, allowing them to make better decisions, faster.
“Forrester’s analysis highlights how the power and scale of Domo saves companies time and money while making it easier to adopt a more data-driven culture,” said Josh James, Domo’s founder and CEO. “With Domo, you don’t need to have technical knowledge of BI tooling, and you don’t need to depend on business analysts. Real-time insights are at your fingertips.”
We’ve been saying for a while that when a company brings all its people, data and systems into one place, the value they get from doing so rises exponentially. Thanks to the work Forrester has done, facts are now there to support it.
Go here to download the study.